Politics
Out of context: Reply #13219
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- TheBlueOne0
Scenes from a Class War:
“The bank would admit to intentionally subverting U.S. tax laws and defrauding the U.S. government by sending dozens of unregistered bankers, Birkenfeld among them, to the United States on thousands of illegal trips to facilitate tax evasion schemes for wealthy U.S.-based clients — a fraud hiding as much as $20 billion in secret undeclared accounts and earning UBS up to $200 million a year in ill-begotten profits.”
http://www.globalpost.com/dispat…
“On average, each cash-using household pays $151 to card-using households and each card-using household receives $1,482 from cash users every year. Because credit card spending and rewards are positively correlated with household income, the payment instrument transfer also induces a regressive transfer from low-income to high-income households in general. On average, and after accounting for rewards paid to households by banks, the lowest-income household ($20,000 or less annually) pays $23 and the highest-income household ($150,000 or more annually) receives $756 every year.”
http://motherjones.com/kevin-dru…
“The bankers said that the school system could raise $750 million in an exotic transaction that would eliminate the pension gap and save tens of millions of dollars annually in debt costs — money that could be plowed back into Denver’s classrooms, starved in recent years for funds...Since it struck the deal, the school system has paid $115 million in interest and other fees, at least $25 million more than it originally anticipated.
To avoid mounting expenses, the Denver schools are looking to renegotiate the deal. But to unwind it all, the schools would have to pay the banks $81 million in termination fees, or about 19 percent of its $420 million payroll.”
http://www.nytimes.com/2010/08/0…
At what point do you guys defending "free market capitalism" start realizing it ain't free, it ain't a market, and it's not capitalism.
It's a protectionist racket for power players for whom competition is the last thing they want interfering with the ponzi scheme that is sucking rent from the rest of society while they provide nothing of value.
- No, but let's focus on something important...like "anchor babies" and 150 yr old established lawTheBlueOne
- ..anything to distract you rubes while your pocket is picked.TheBlueOne
- been saying its not capitalism at all for awhile now. especially when people try to call it such.********
- and blue people can be concerned with multiple problems.********
- Amen TBO!!!DCDesigns